Features
‘We Highly Recommend International Acts Consider An Eastern European Leg’: Q’s With Stefan Elenkov, Founder & CEO, Fest Team
Pollstar speaks with Stefan Elenkov, founder and CEO of Fest Team, based in Bulgaria, and promoting across the Balkan region. It recently expanded its business by acquiring Charmenko, one of the most experienced promoters in the region.
We asked Elenkov about the state of business, the live infrastructure across markets, as well as the history of his company, Fest Team, which launched in 2012.
Pollstar: Do you remember the moment you fell in love with live music? Was that also the moment you decided to work in live entertainment, or did that come later?
Stefan Elenkov: My love for live music began when I was younger, heavily involved in organizing and promoting the biggest festival for Latino dance in Bulgaria. This genre’s captivating tunes have always resonated with me, and I still enjoy listening to it occasionally. However, my decision to work in live entertainment came later, when I stepped into the marketing field. It was then that I realized I could combine my passion for music with my marketing skills.
When was Fest Team launched, and what were the most significant milestones in the development of the company over the years?
Fest Team was founded in 2012. We started gradually, gaining experience and momentum over time. The COVID period was a pivotal time for us, allowing us to assemble an exceptional team and lay down ambitious plans. Today, Fest Team is the largest promoter in Bulgaria, with aspirations to become a leading player in Eastern Europe and the Balkans. We bring together over 200,000 fans annually, hosting events like the Sofia Solid series, Hills of Rock Festival, and Spice Music Festival. Our portfolio features performances by global superstars such as Pantera, Eros Ramazzotti, Arctic Monkeys, Ed Sheeran, Iron Maiden, and many more. Key milestones include hosting the only festival during the pandemic in Europe, the record-breaking sale of Arctic Monkeys tickets in less than four hours, and the acquisition of Charmenko.
What recent success stories would you like to highlight?
One recent highlight was the collaboration between the world-renowned Mystery of Bulgarian Voices and Bring Me The Horizon at Hills of Rock. They performed together the intro for “Parasite Eve” live on stage, which drove the audience absolutely wild. It was a remarkable and memorable moment that showcased our ability to create unique and unforgettable live music experiences.
How’s the live infrastructure in Bulgaria? Are there enough venues of all sizes, from club to stadium, to tour every kind of artist and show, and especially grow an artist’s career organically?
The live music infrastructure in Bulgaria is still developing and lacks diversity. In major cities, there are more clubs of varying sizes, but the capital city still doesn’t have a proper music hall. We have one old-fashioned classical venue, and a sports hall that doubles as a concert venue. However, we are actively working on establishing a suitable music hall in the near future to better support the growth of the live music scene and artists’ careers.
How about the surrounding markets? Which markets stand out in terms of state-of-the-art infrastructure, and which markets need some work done?
I don’t have specific insights into the surrounding markets, but generally, some Eastern European countries have more developed live music infrastructures than others. As an example I would like to point out Hungary, where I think they have most well developed infrastructure for our business. Improvements in venue quality and diversity are needed in many places to better support artists and live events.
Do you recommend that all international acts route a full Eastern European touring leg when they visit Europe? Or is that option limited to the big names in the game?
Fest Team aims to bring not only the biggest stars but also young and promising acts to Bulgaria. We believe that attracting emerging talent is crucial for building a loyal audience. So, yes, we highly recommend international acts to consider a full Eastern European touring leg. It’s not just for the big names; there’s a growing market for diverse talent here.
How important is local repertoire and local artists to your business?
Local artists are important to the business. While international stars draw large crowds, local bands are the soul of the community. It’s our responsibility to showcase local talent and give them the platform they deserve. They help create a vibrant and authentic music scene that resonates with the audience.
How many festivals are in your portfolio? Has that part of the business become more important in recent times?
Currently, we have two major festivals in our portfolio: Spice Music Festival, an open-air discotheque by the seaside, and Hills of Rock, Bulgaria’s biggest rock and metal festival held in Plovdiv. This year, Hills of Rock saw a record attendance of over 60,000 people across three days, with headliners like Korn, Bring Me The Horizon, and Amon Amarth.
In the last 9 months we founded two brand new family festivals – one for Halloween and one for the international’s children day – 1st of June, Fantasy Familyland. Both placed in Bulgarias only film studios in the capital – Nu Boyana Film Studios, we are exploring new territories by hosting festivals that cater specifically to families with children, expanding Bulgaria’s growing festival market. The Halloween festival transforms the studios into a family-friendly yet thrilling environment, featuring immersive experiences, themed activities, and live performances designed to entertain both kids and adults. Leveraging the studios’ cinematic magic, this event offers a unique, safe, and exciting way for families to celebrate Halloween together.
‘Enormous Opportunity To Grow’: A Look At Bulgaria’s Potential With Fest Team
Similarly, the Family Fantasyland event on June 1, marking International Children’s Day, turns the studios into a vibrant playground for children. This festival includes interactive games, live entertainment, and educational workshops, all set against the backdrop of the studio’s fantastical film sets.
By creating these family-oriented festivals, we aim to provide high-quality entertainment that brings together families and enhances the cultural landscape of Bulgaria, making it a notable destination for diverse and inclusive events. Both festivals have had a big succes in numbers of visitors for first-time events – 20,000 people across two days.
Have the demands of festivalgoers changed?
Festivalgoers are increasingly looking for eco-friendly solutions, reflecting a broader trend in Europe and Bulgaria.
What’s the economy like – inflation, recession, cost-of-living crisis– and does it differ a lot between Eastern European countries? How does this affect business?
Economy in Bulgaria is stable and it’s aiming to adopt the Euro very soon, hopefully in 2025. This will give our market additional stability and predictability. Which will help us to increase standart of living and will give people additional income , which they can use for cultural events.
The economic situation varies across Eastern Europe, with some countries experiencing higher inflation and cost-of-living challenges than others. Main difference is between countries which are in EU and those ones which are outside EU. These economic factors do impact our business, influencing ticket prices, sponsorship deals, and overall consumer spending on live events.
What does the addition of Charmenko mean for your business, as well as for the artists you work with?
The acquisition with Charmenko is transformative for Fest Team. By combining our expertise in organizing large-scale music events with Charmenko’s robust artist booking capabilities and industry know-how, we aim to create a synergy that will redefine the music landscape. This integration will streamline our ability to connect artists with venues and festivals, offering comprehensive solutions that enhance the overall experience for both performers and audiences. We provide a full-scope, end-to-end approach at any scale, from stadium mega-shows and open-air festivals to concerts and large corporate events.
Does the war in Ukraine affect business at all?
Aside from potentially altering touring routes, the war in Ukraine does have broader implications on business. It affects regional stability, travel logistics, and overall economic conditions, which can influence the live music industry.
Are ticket prices you can charge in Bulgaria and the surrounding countries in line with what you can charge in Germany, France, Italy, Spain, etc., or are there big differences?
Currently, ticket prices in Bulgaria and the surrounding countries are not on par with those in Western Europe. However, once Bulgaria adopts the Euro and joins the Schengen area, we anticipate that prices will need to adapt accordingly. But this won’t happen immediately and will take it’s time.
Name one remaining challenge your team needs to overcome in the coming months and years, and one opportunity you’d like to tap into?
One major challenge we face is managing two stadium shows – Ed Sheeran and Andrea Bocelli – after a long period without such large-scale events. The logistical demands of these shows require meticulous planning and coordination with government officials, municipalities, security companies, media, and other stakeholders. An opportunity we’d like to tap into is expanding our festival portfolio to include more diverse and eco-friendly events, catering to the evolving preferences of our audience.
Anything you’d like to add?
Fest Team is committed to enhancing the live music experience in Bulgaria and beyond. We are constantly seeking new ways to innovate and bring extraordinary performances to our audience. We look forward to continuing our journey and making even more significant contributions to the music industry.